Cumulus Media Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 207.42 million compared to USD 233.46 million a year ago. Net income was USD 2.72 million compared to USD 8.54 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.45 a year ago. Diluted earnings per share from continuing operations was USD 0.16 compared to USD 0.45 a year ago.
For the nine months, sales was USD 623.25 million compared to USD 702.24 million a year ago. Net loss was USD 19.81 million compared to net income of USD 16.29 million a year ago. Basic loss per share from continuing operations was USD 1.13 compared to basic earnings per share from continuing operations of USD 0.82 a year ago. Diluted loss per share from continuing operations was USD 1.13 compared to diluted earnings per share from continuing operations of USD 0.81 a year ago.